“This collaboration further diversifies and expands Root’s offerings across distribution channels,” said Alex Timm, Root’s co-founder and CEO. “Our partnership channel has seen new writings increase 115% year-over-year as our pipeline continues to expand across the automotive, financial services, and agent sub-channels.”
Following those filings, both BOEM and UNOCAL issued claims under the bonds, prompting US Fire to demand collateral from the indemnitors, as permitted under Paragraph 3 of the indemnity agreement. That provision allows the insurer to demand irrevocable letters of credit or other forms of security, at its sole discretion, upon receipt of claims—even before…
“Interestingly, that may increase the number of third-party lawsuits,” he said. “There is, in the US, the ability for citizens to do a citizens’ action against a company that’s not in compliance with the regulations, and one of the criteria is the regulators aren’t doing anything. Then, the citizens can bring a lawsuit and pay…
Simon Delchar, global head of placement at Willis, added that the expansion reflects growing collaboration within the London cyber market. “CyXS Plus and CyXS Company bring the number of insurers supporting CyXS to 25, showing fantastic commitment from the London cyber market to deliver better outcomes for our clients around the globe,” he said. Source…
The plaintiff, William Young, who represented himself, alleged that State Farm submitted a false accident report to the National Accident Reporting Agency, operated by LexisNexis, in connection with an incident that occurred on or about January 5, 2023, in a CVS parking lot in Largo, Maryland. At the time, Young was insured by Progressive, not…
